[Federal Register Volume 61, Number 139 (Thursday, July 18, 1996)]
[Notices]
[Pages 37479-37480]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18219]
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FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and Mergers of Bank Holding
Companies
The companies listed in this notice have applied to the Board for
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C.
1841 et seq.) (BHC Act), Regulation Y (12 CFR Part 225), and all other
applicable statutes and regulations to become a bank holding company
and/or to acquire the assets or the ownership of, control of, or the
power to vote shares of a bank or bank holding company and all of the
banks and nonbanking companies owned by the bank holding company,
including the companies listed below.
The applications listed below, as well as other related filings
required by the Board, are available for immediate inspection at the
Federal Reserve Bank indicated. Once the application has been accepted
for processing, it will also be available for inspection at the offices
of the Board of Governors. Interested persons may express their views
in writing on the standards enumerated in the BHC Act (12 U.S.C.
1842(c)). If the proposal also involves the acquisition of a nonbanking
company, the review also includes whether the acquisition of the
nonbanking company complies with the standards in section 4 of the BHC
Act, including whether the acquisition of the nonbanking company can
``reasonably be expected to produce benefits to the public, such as
greater convenience, increased competition, or gains in efficiency,
that outweigh possible adverse effects, such as undue concentration of
resources, decreased or unfair competition, conflicts of interests, or
unsound banking practices'' (12 U.S.C. 1843). Any request for a
hearing must be accompanied by a statement of the reasons a written
presentation would not suffice in lieu of a hearing, identifying
specifically any questions of fact that are in dispute, summarizing the
evidence that would be presented at a hearing, and indicating how the
party commenting would be aggrieved by approval of the proposal. Unless
otherwise noted, nonbanking activities will be conducted throughout the
United States.
Unless otherwise noted, comments regarding each of these
applications must be received at the Reserve Bank indicated or the
offices of the Board of Governors not later than August 13, 1996.
A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. The Landrum Company, Columbia, Missouri; to acquire 100 percent
of the voting shares of First Heritage National Bank, Ada, Oklahoma, a
de novo bank.
B. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. Cal Fed Bancorp Inc., Los Angeles, California; to become a bank
holding company by acquiring 100 percent of the voting shares of First
Citizens Bank, Sherman Oaks, California, and also to retain ownership
of California Federal Bank, FSB, Los Angeles, California, and thereby
engage in the activity of operating a savings association, pursuant to
Sec. 225.25(b)(9) of the Board's Regulation Y, and to retain ownership
of the following direct and indirect subsidiaries of this institution:
Cal Fed Credit, Inc., Rosemead, California, and thereby engage in
making home equity loans, pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y; Cal Fed Credit of Texas, Inc., Irving, Texas, and thereby
engage in holding automobile loans, pursuant to Sec. 225.25(b)(1) of
the Board's Regulation Y; CalFed Investment Corp., Los Angeles,
California, and thereby engage in holding mortgage loans, pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y; Cal Fed Insurance
Agency, Inc., Los Angeles, California, and thereby engage in providing
credit related insurance, pursuant to Sec. 225.25(b)(8)(i)&(ii) of the
Board's Regulation Y; Cal Fed Investment Services, Los Angeles,
California, and thereby engage in securities brokerage services,
pursuant to Sec. 225.25(b)(15)(i) of the Board's Regulation Y; Cal Fed
Mortgage Company, Los Angeles, California, and thereby engage in
holding mortgage loans, pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y; Cal Fed Service Corporation, Los Angeles, California, and
thereby engage in mortgage loan servicing, pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y. Cal Fed Bancorp, Inc. also
has proposed to retain the following subsidiaries: Cal Fed Enterprises,
Los Angeles, California; CFE Portrero Corporation, Los Angeles,
California;
[[Page 37480]]
Cal Fed Syndications, Los Angeles, California; California Communities,
Inc., Los Angeles, California; CF Management Corp., Los Angeles,
California; CF Recovery Corp. One, Los Angeles, California; CF Recovery
Corp. Two, Los Angeles, California; Melrose Funding Incorporated, Los
Angeles, California; XCF Acceptance Corporation, Los Angeles,
California.
Board of Governors of the Federal Reserve System, July 12, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-18219 Filed 7-17-96; 8:45 am]
BILLING CODE 6210-01-F
